Japan's MOL joins Port of Newcastle clean energy project in Australia

Japanese shipping company Mitsui O.S.K. Lines (MOL) on July 13 announced its participation as a partner in the construction of the Clean Energy Precinct construction project in Australia. The project, led by the Port of Newcastle (PoN), aims to establish a supply chain and develop a center for the production, storage, and export of clean energy, including green hydrogen and ammonia.

MOL and PoN signed a memorandum of understanding in February to study the construction of the Clean Energy Precinct. Since May, the project has been in full operation, and MOL has commenced a joint study with PoN, focusing on ocean transport and bunkering of clean energy in the region.

The Australian federal government has allocated A$100mn in funding for the project. The Clean Energy Precinct will be situated in the port area of Newcastle, New South Wales, and will play a crucial role in promoting a decarbonised society and creating local job opportunities, MOL said.

The Port of Newcastle is a vital hub, with MOL-operated vessels making over 300 calls there each year.